Nick Young officially re-signs with Lakers

Lakers guard Nick Young arrives at the ESPY Awards at the Nokia Theater on Wednesday.

Lakers guard Nick Young arrives at the ESPY Awards at the Nokia Theater on Wednesday. (Jordan Strauss / Invision/Associated Press)

Eric Pincus

Nick Young officially re-signs with Lakers

On Monday, the Lakers officially re-signed free agent guard/forward Nick Young to a four-year, $21.32 million contract.

"When Nick became a free agent in June, I expressed hope that we would be able to bring him back on a contract that was in the best interest of both the Lakers and himself, and I am proud to say we were able to do so,” said General Manager Kupchak. “Nick was a bright spot for us last season, and we are happy to retain such a skilled player who is committed to being a part of what we are building as a franchise."

Young signed with the Lakers last summer as a free agent, taking a minimum contract. He will earn $4.99 million for the upcoming year and can opt out of the contract before the 2017-18 season.

Through 64 appearances, Young averaged 17.9 points a game while shooting 43.5% from the field and 38.6% from three-point range.

With Young signing, the Lakers should be down to just $507,336 in cap room, enough to sign draft pick Jordan Clarkson (46th overall pick) to a multiyear contract.

The team also has agreements to sign Jordan Hill, Ed Davis, Xavier Henry, Ryan Kelly and Wesley Johnson. The Lakers have Hill's "Bird Rights" which will enable the organization to pay him approximately $18 million over two years (with a team option on the second season), despite being over the salary cap.

Davis, Henry and Johnson will earn minimum salaries while it remains unclear how much Kelly will make on his Lakers' return.

The team still has a $2.7 million exception to spend in free agency, although some or all of that may be tabbed for Kelly.